Here is part 2 of the article about the Kennedy Half Dollar that I started yesterday. The big news for coin collectors in 1968 was the resumption of Proof set production. From 1965 to 1967 the mint had issued Special Mint sets. Although Special Mint coins had some of the characteristics of Proofs, especially in 1967, they were not true Proof coins. The new Proof sets provided one instant source of interest for collectors. The coins were produced at the recently re-opened San Francisco mint and bore the “S” mint mark. Previously the Philadelphia mint had produced almost all U.S. Proof coins, and the few pieces that had been struck elsewhere carried the intriguing label, “branch mint Proof.” Now all U.S. Proof coins were “branch mint Proofs,” and many collectors found that prospect fascinating. It is hard to believe, but the 1968-S Proof set once sold for $35.00. It even spilled over into the next the year when the 1969-S set briefly sold for a premium. Today these sets are on the Graysheet for $5.50, which is only 50 cents above the issue price. Bear in made that the dollar was worth a lot more in terms of fuel and housing in 1968. The 1968-S Proof set was a big hit when it was introduced. It was the first true Proof set that the mint had issued since 1964. By 1970 the price of silver had risen the point where even the 40% silver half dollars contained enough of the precious metal to warrant saving them for their melt value. That year the mint system suspended the production of half dollars for general circulation. The only way that collectors could obtain a 1970 half dollar was to buy a mint set, which contained a 1970-D coin, or a Proof set, which contained a 1970-S coin. In 1971, Congress removed all of the silver from half dollar. The new half dollars were made of the same copper-nickel clad alloy that was used in the dime and quarter. Despite this change many members of the general public continued to hoard half dollars in the mistaken belief that they were valuable. The coin was rarely seen in circulation. In addition mint artists created new master dies (hubs) from the Kennedy Half Dollar. The design was basically the same, but the relationship of the Kennedy portrait to some of the letters in the word “LIBERTY” was slightly different, and the rims on both sides of the coin were wider. Though the years a number of similar minor changes can be found on Kennedy Half Dollars. The Kennedy Half Dollar artwork received subtle changes in 1971 along with the change from the 40% silver clad coins to the copper-nickel clad series. Compare the width of the rims on these two pieces. There would be more subtle changes in future years. The next major change to the Kennedy Half Dollar came in 1975. In observance of the nation’s Bicentennial Celebration, the mint asked private citizens to submit special designs for the reverse of the quarter, half dollar and dollar coins. The winner of the half dollar competition was Seth Huntington. His design featured a view of Independence Hall in Philadelphia. Obverse of the JFK Half Dollar remained the same except that the date was shown as 1776 – 1976. These coins were struck in 1975 and ’76, and it is impossible to attribute these coins to a specific date. The mint system issued bicentennial coins in the copper-nickel format for general circulation and for complete Proof sets. The San Francisco mint also made special collector coins on 40% silver clad planchets in the Uncirculated and Proof formats. These three coins sets were widely distributed. In 1977 the heraldic eagle design was resumed on the reverse. The 1975 - 76 Bicentennial Half Dollar In 1992 the United States began to issue Proof sets that included a dime, quarter and half dollar in the old 90% silver composition. These premium sets proved to be popular and the practice of issuing them has continued to the present day. During the period mint artists also began to sharpen the designs on the master dies to show more hair detail for all of the historical figures that are depicted on our coinage. Some collectors have derisively labeled this greater detail as “spaghetti hair,” but others have found them to be more attractive. At any rate the John F. Kennedy now seen on the half dollar shows more hair detail than any of its predecessors. The 90% silver Proof silver coins recalled "the good old days" for many collectors. There was also a marked increase in the amount of detail shown in JFK's hair. In 1998 collectors were treated to another unusual Kennedy Half Dollar. That year the mint issued a commemorative silver dollar in honor President Kennedy’s brother, Robert, who was assassinated in 1968. The Robert Kennedy coins were issued in the customary Proof and Uncirculated formats as single coins and two piece sets. There was also a “Kennedy Collector’s Set” which contained an Uncirculated RFK silver dollar and a Matte Proof Kennedy Half Dollar. The issuance of a silver Matte Proof coin was quite an event. During the period from 1907 until the 1920s when the mint issued most of its Matte Proof coins, very few silver coins were issued in that format. The 1998-S Matte Proof Kennedy Half Dollar had a uniformly dull finish and strong details that were equal in sharpness to customary brilliant Proof pieces. The coin became a favorite among collectors and prices quickly escalated to over $200 although they have since backed off quite a bit. The 1998-S Matte Proof Kennedy Half Dollar marked the first time that the mint system had issued a Matte Proof coin in silver in 50 years. Here is the obverse of that piece. The 1998-S Matte Proof JFK Half Dollar was sold as part of a two piece set with the Uncirculated vertion of the Robert F. Kennedy commemorative silver dollar. To be continued, next post ...
The year 2014 marked the 50th anniversary of the Kennedy Half Dollar. In honor of that, the mint system issued five commemorative Kennedy Half Dollar collector coins. The more affordable of these coins was a four piece set in the Proof, Reverse Proof, Uncirculated and Enhanced Uncirculated formats. The mint artists duplicated Gilroy Roberts’ original artwork on these pieces, and they were struck on 90% silver planchets The box cover for the 2014, four piece Kennedy Half Dollar set. The four coins that were in the set. A more regal, and far more expensive Kennedy Half Dollar was issued in gold. This piece had the duel dates, “1964 ∙ 2014”. The West Point Mint struck these pieces, which were the first silver coin designs to be issued in gold. Later the mint would issue similar items for the Mercury Dime, Standing Liberty Quarter and Walking Liberty Half Dollar. Despite and issue price that was in excess of $1,000, the mintage was 73,772. The gold Kennedy Half Dollar was packaged in a fancy wooden box. The gold Kennedy Half Dollar carried the duel dates, "1964 - 2014." The mintage was 73,772 coins. Despite the production of many millions of coins, the Kennedy Half Dollar is almost never seen in circulation. Some have argued that the coin is too heavy and cumbersome to carry, yet that was not true many years ago before the Kennedy design was introduced. Anyone who has examined rolls of “junk silver” half dollars can tell that virtually all of the coins show signs of circulation, and many of them exhibit extensive circulation down to grades as low as Good and Very Good. Clearly the introduction of the Kennedy coin put an end to the widespread use of the half dollar. Continued speculation and confusion by non-collectors that all Kennedy half dollars contained silver and were worth more than their face value, contributed to the coin’s effective demise. Over the 56 year lifespan of the Kennedy Half Dollar series, there have been no major rarities, but many dates have been issued only in mint or Proof sets. The most famous of these dates were 1970 and 1987, but it might interest some casual collectors to know that the mint has not issued any half dollars into normal commercial channels since 2001. The only way to obtain the dates and mint marked pieces from 2002 to date has been to buy them in Proof or Mint Sets and mint issued rolls at prices higher than their face value. Since it has become obvious that the half dollar will never again see wide circulation, collectors might well contemplate an end to the denomination which has been a part of the American coinage system since 1794.
The 40% silver years are particularly intriguing to me, as PL's are known for several dates. PLs from 1970D are quite common, but 68D and 69D are much scarcer. Here are mine:
PLs are unknown from 1972 through 1985, but in the late 80's they started becoming more common. PLs are known for most dates from the late 80's through the present. As the mint began chrome plating its dies to prolong life, these PL strikes became more common. Avoid paying a large premium for PL's from about 2010 through the present, because they are quite common. Uncommon, however, are DPL coins from the 80's. This coin is graded 65 DPL, and has mirrors so deep you could shave in them:
They had the Kennedy 3/4 oz. gold piece and dealers paid people to stand in line....there were fights....etc. Someone here must know more details. I wasn't covering it that closely and wasn't tracking it in real-time at the time.
I bought the 2014 gold Kennedy Half Dollar because the 1964 coin met a lot to me when I was young collector. That was the first new design that was issued after I started to collect. It seemed like it took forever for my local bank to get them. I think I saw my first one in May 1964.
Excellent post, OP! Thoroughly enjoyed these posts! One very minor thing to point out and add on the 2014 gold coin - they moved the mintmark back to the original 1964 location on the reverse. I thought this was a nice touch to pay homage to the original design.
